RB Global, Inc. (NYSE:RBA) Stock Has Average Price Target of $126.29 According to Analysts

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has been given a consensus recommendation of “Moderate Buy” by the ten analysts that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $126.29.

A number of equities research analysts recently commented on the stock. Weiss Ratings cut shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 18th. Wall Street Zen downgraded RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Raymond James Financial raised shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price target for the company in a report on Tuesday, June 30th. Royal Bank Of Canada restated an “outperform” rating and set a $152.00 price objective on shares of RB Global in a report on Wednesday, September 23rd. Finally, National Bank Financial upped their price target on RB Global from $130.00 to $132.00 and gave the company an “outperform” rating in a research report on Thursday, October 15th.

RB Global Stock Performance

Shares of RBA stock opened at $84.81 on Friday. The stock has a market capitalization of $15.37 billion, a PE ratio of 36.40, a price-to-earnings-growth ratio of 1.44 and a beta of 0.53. RB Global has a 52-week low of $78.05 and a 52-week high of $119.33. The stock’s 50-day moving average price is $83.78 and its 200 day moving average price is $100.29. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.21 billion. As a group, equities research analysts forecast that RB Global will post 4.06 EPS for the current year.

RB Global announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, September 15th that allows the company to buy back $500 million in outstanding shares. This buyback authorization allows the business services provider to purchase up to 3.3% of its stock through open market purchases. Share buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at RB Global

In other news, Director Chloe Harford acquired 1,200 shares of the stock in a transaction on Monday, August 24th. The shares were purchased at an average cost of $83.74 per share, for a total transaction of $100,488.00. Following the transaction, the director owned 1,200 shares in the company, valued at approximately $100,488. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Deborah Stein purchased 500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were bought at an average price of $80.91 per share, with a total value of $40,455.00. Following the completion of the acquisition, the director owned 2,325 shares of the company’s stock, valued at $188,115.75. This trade represents a 27.40% increase in their position. The SEC filing for this purchase provides additional information. 0.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RB Global

Several hedge funds have recently bought and sold shares of the business. Tectonic Advisors LLC grew its position in shares of RB Global by 10.0% in the third quarter. Tectonic Advisors LLC now owns 66,826 shares of the business services provider’s stock valued at $5,439,000 after purchasing an additional 6,091 shares during the last quarter. Canoe Financial LP increased its stake in RB Global by 3.0% in the third quarter. Canoe Financial LP now owns 1,443,141 shares of the business services provider’s stock valued at $117,719,000 after acquiring an additional 42,286 shares during the period. QV Investors Inc. increased its stake in RB Global by 33.4% in the third quarter. QV Investors Inc. now owns 390,069 shares of the business services provider’s stock valued at $31,846,000 after acquiring an additional 97,697 shares during the period. Arkfeld Wealth Strategies L.L.C. acquired a new position in RB Global in the third quarter worth about $771,000. Finally, Assenagon Asset Management S.A. raised its position in RB Global by 5.0% in the third quarter. Assenagon Asset Management S.A. now owns 7,310 shares of the business services provider’s stock worth $598,000 after purchasing an additional 349 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Company Profile

RB Global, Inc is a global marketplace and provider of asset management and disposition services for commercial and industrial equipment, vehicles and other durable assets. The company connects buyers and sellers through live and online auctions, negotiated sales and digital marketplaces, serving industries such as construction, transportation, agriculture, energy, government and automotive.

Its portfolio includes Ritchie Bros., a major auction and marketplace brand for heavy equipment; IAA, which specializes in salvage and repairable vehicle auctions; and Mascus, an online marketplace for used equipment.